Alphabet hits USD 1 Trillion Mark
Published: January 17, 2020
The parent company of Google and its several subsidiaries, American multinational conglomerate- Alphabet Inc. has crossed the market valuation of USD 1 trillion mark on Thursday, 16th January 2020 as the shares of the company closed at USD 1,451.70 making Alphabet the fourth company from the United States to cross the valuation after Apple (first U.S company to cross in 2018), Amazon (September 2018) and Microsoft (April 2019). Back in 2007, Chinese oil and gas company, PetroChina became the first company in the world to hit market valuation of USD 1 trillion.
On 4th December 2019, Indian-American Chief Executive Officer (CEO) of Google, Sundar Pichai was elevated as the CEO of the parent company of Google, Alphabet Inc after its founder Sergey Brin and Larry Page stepped down stating the move was to focus on starting new initiatives. In December, after launching its Initial Public Offering(IPO), the Saudi Arabian oil company, Saudi Aramco became the first company in the world to reach USD 2 trillion market cap.
Category: Economy & Banking Current Affairs